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Brazil watchdog's ruling on HSBC unit sale seen as key to dividend payout

Thu, Jun 09, 2016 - 5:50 AM

Mr Gulliver is counting on the US$5.2b sale of HSBC Bank Brasil Banco Múltiplo SA to boost HSBC's main capital ratio and ensure it remains the biggest dividend payer among European banks.

PHOTO: BLOOMBERG

London

BRAZIL'S antitrust watchdog Cade is due to reveal on Wednesday whether HSBC Holdings Plc can sell its Brazilian unit to Banco Bradesco SA, a decision with big implications for the British bank's chief executive officer Stuart Gulliver and shareholders.